10-Unit complex with 7 single family ranch style homes and one 3 unit building with separate utilities for electric and heating fuel paid by all Tenants. There are 4 storage sheds on the property. All houses have front and rear porches. Located off Timothy Lake Road in East Stroudsburg. Long term tenants (2 to 7 years residency) with transferable annual leases. The property is being sold in “as is” condition. According to Rent.com, the average rent price for a 2 bedroom in E. Stroudsburg is $1,850 and a 3 bedroom is $3,250. The existing rents range from $1015 to $1350 and can be significantly increased as leases expire. Annual gross rental income is $138,180. Annual expenses are $31,783 giving a net profit of $106,397 per year. The capitalization rate is 10.1%. Principles only please. Proof of funds required prior to showings. There is a 2% commission available to a buyer's agent.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
